Mercer Management & Development
Real Estate Developer Revitalizes Business and Communities

Not everyone likes a "fixer-upper." That is probably a good thing for proprietors Christopher S. Vernon and Mark Corcoran, who turned their passion for restoration into a lucrative enterprise. Mercer Management & Development, Inc. (MMD) emerged 20 years ago when the partners purchased, renovated and then sold a group of single-family homes in Trenton's inner city.

The project was more profitable than they imagined, not only yielding revenue but also helping to revitalize an under served neighborhood. This early success unleashed an unbridled entrepreneurial spirit and seeded the growth of an urban-focused real estate development firm spanning five counties and multiple industries.

MMD is truly unique. Covering suds to storage, the company has flourished into a 75-person operation overseeing a diverse portfolio of rehabilitated and newly constructed properties - including residential housing, office and commercial sites, car wash and oil lube establishments, and self-storage facilities.

"We really have a love for urban properties and re-investing in communities. That's where we started and remains at the core of our business," asserts Vernon. "We look for properties with potential for higher use, higher value and opportunity to fill unmet needs." Those goals have been attained through a wide array of projects, from rehabilitating abandoned warehouses, to building modernized apartment complexes, to breathing new life into failing businesses.

About 10 years ago, the partners realized that their company was expanding rapidly and in need of its own revitalization. With increasingly complex tax and financial issues, thriving assets and big plans for the future, they were looking for more than a traditional accountant. They sought seasoned, visionary CPAs who understood their ambitions - service-oriented professionals who could work cooperatively with their financial officers and navigate the complicated maze of tax filings and requirements. They found an ideal with Bartolomei Pucciarelli.

The Lawrenceville-based CPA and business advisory firm started with MMD's annual tax return, but quickly advanced into invaluable tax planning and consulting. "As we've grown into this niche market, Bartolomei Pucciarelli has guided us along the way ... helping us overcome hurdles in obtaining financing, developing goals and evaluating new ventures," stated Vernon.

Bartolomei Pucciarelli introduced tax strategies for MMD, highlighted by proactive tax positioning. Principals at both companies engage in third and fourth quarter meetings to anticipate revenue, forecast tax expenditures and prepare for the annual tax filing. "Our credo is 'no surprises' for our customers," explained Jim Bartolomei, CPA. "You can't fix a year-end tax problem in February; you have to address issues early to avoid seeing them on your tax bill."

In 2003, MMD faced a challenge many small businesses hope not to experience - an audit by the IRS. Bartolomei Pucciarelli participated in the arduous process which was completed without a single adjustment - a true rarity and testament to Bartolomei Pucciarelli's exceptional competencies in this area.

On a larger scale, Bartolomei Pucciarelli was also contracted to automate MMD's accounting procedures, integrating state-of-the-art information technology. "Their expertise took us from shoebox receipts to a streamlined, computerized bookkeeping system," noted Vernon.

Additionally, Bartolomei has been instrumental in procuring capital for expansion, assisting MMD with business plans, financial projections and critical loan applications. "They are very astute when it comes to analyzing new projects and determining if they are viable investments," said Vernon.

The firm's contributions are consistently well received by town councils and lending institutions, directly impacting the launch of many highly successful projects and the economic development of numerous communities.

Both companies share a zealous, innovative approach to business, which has fostered a mutually enriching partnership. "Bartolomei Pucciarelli is genuinely interested in moving our business forward. They are extremely dedicated, responsive and always there to take your call," asserted Vernon.

Vernon and his partner anticipate that MMD will continue to tap into Bartolomei Pucciarelli's wealth of accounting and advisory services as it embraces new opportunities and aspirations.

"Jim Bartolomei and his associates are well respected within the industry and the community with a reputation that precedes them," added Vernon. "The firm has done a great job for us ... they're about as fine as they come."